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Shein quarterly profit falls 67% as costs jump, Europe sales slump

Sept 28 : Fast-fashion platform Shein reported plunging profit and sliding European sales on Monday in its first results as a public company, feeding investor worries over margin pressure and slowing growth. Adjusted net profit was $228…

Shein quarterly profit falls 67% as costs jump, Europe sales slump

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Shein reports sharp drop in Europe sales after price hikes

Sept 28 : Fast-fashion platform Shein reported a sharp drop in sales in Europe in the second quarter after it hiked prices and cut online advertising in anticipation of the European Union imposing fees on low-value e-commerce parcels from…

Shein reports sharp drop in Europe sales after price hikes

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Cerebras to supply AI systems to cloud computing startup Gimlet Labs

SAN FRANCISCO, Sept 28 : Cerebras Systems plans to supply AI chips and hardware with capacity to consume roughly 100 megawatts to startup Gimlet Labs to help run its cloud computing business, the companies said on Monday.The deal between…

Cerebras to supply AI systems to cloud computing startup Gimlet Labs

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Meta taps MongoDB CEO Desai to drive enterprise AI push

Sept 28 : Meta Platforms has poached MongoDB CEO Chirantan "CJ" Desai to spearhead a new business designed to bring the social media giant's AI tools to corporate customers.Shares of the database software provider tumbled 18 per cent in…

Meta taps MongoDB CEO Desai to drive enterprise AI push

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SpaceX's Starship launches on 14th flight, first headed to orbit

STARBASE, Texas, Sept 28 : - SpaceX's next-generation Starship rocket lifted off from Texas on Monday for its debut flight to orbit and first operational release of satellites, marking its 14th launch ahead of a routine service that Elon…

SpaceX's Starship launches on 14th flight, first headed to orbit

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Defense tech firm REDLattice strikes SPAC deal to go public in US

Sept 28 : REDLattice has agreed to go public in the US through a special purpose acquisition deal with blank-check firm Bold Eagle Acquisition, the companies said on Monday. The transaction values the US-based defense technology company at…

Defense tech firm REDLattice strikes SPAC deal to go public in US

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Satellite firm Astro Digital to go public in $587 million SPAC deal

Sept 28 : Satellite maker Astro Digital said on Monday it had agreed to go public through a merger with blank-check company Proem Acquisition Corp I, in a deal valuing the company at about $587 million.Here are some details:• Early-stage…

Satellite firm Astro Digital to go public in $587 million SPAC deal

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AI agent firm Instinct raises $1 billion in latest funding round

Sept 28 : AI firm Instinct said on Monday it raised $1 billion in its latest funding round, quadrupling its valuation to $10 billion, driven by soaring interest in agentic AI. The round drew investments from Sequoia Capital, Benchmark…

AI agent firm Instinct raises $1 billion in latest funding round

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Nvidia boosts share buyback by record $150 billion as AI boom fuels growth

Sept 28 : Nvidia boosted its share buyback authorization by a record $150 billion, eclipsing Apple's $110 billion approval in 2024, making a big bet on its own stock as intensifying AI-chip competition weighs on its performance relative to…

Nvidia boosts share buyback by record $150 billion as AI boom fuels growth

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Nvidia adds $150 billion to existing share repurchase plan

Sept 28 : Nvidia boosted its share buyback authorization by a record $150 billion, eclipsing Apple's $110 billion approval in 2024, making a big bet on its own stock as intensifying AI-chip competition weighs on its performance relative to…

Nvidia adds $150 billion to existing share repurchase plan

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Roche outlines plans to move towards autonomous AI labs

ZURICH, Sept 28 : Swiss pharmaceutical giant Roche outlined plans to move towards autonomous AI labs to speed up research and development discovery at its pharma investor day on Monday.Roche is committed to "AI independence" in R&D and has…

Roche outlines plans to move towards autonomous AI labs

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Prediction markets' push into US stocks raises regulatory alarm bells

WASHINGTON, Sept 28 : Prediction markets are fast becoming alternative venues for traders to wager on US companies like Tesla and Apple, raising concerns about investor protection and market oversight, according to independent data and…

Prediction markets' push into US stocks raises regulatory alarm bells

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Apple, Amazon face revived UK consumer lawsuit over product sales

LONDON, Sept 28 : Britain's Competition Appeal Tribunal allowed part of a revived consumer lawsuit against Apple and Amazon to proceed on Monday over claims they restricted competition.The lawsuit alleges Apple and Amazon agreed in 2018 to…

Apple, Amazon face revived UK consumer lawsuit over product sales

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Apple and Amazon face revived UK consumer lawsuit over product sales

LONDON, Sept 28 : Britain's Competition Appeal Tribunal on Monday allowed part of a consumer lawsuit against Apple and Amazon to proceed over claims they restricted competition in the sale of Apple products on Amazon's UK marketplace.The…

Apple and Amazon face revived UK consumer lawsuit over product sales

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Global AI trade could revive after recent pullback, J.P. Morgan says

Sept 28 : The recent pullback in the global AI trade has improved investor positioning, made valuations attractive and could spur a re-engagement, particularly in semiconductor stocks, J.P. Morgan analysts said on Monday.Here are a few…

Global AI trade could revive after recent pullback, J.P. Morgan says
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